The Algorand network has signed a deal to become the official blockchain technology partner of the 2022 FIFA World Cup in Qatar, and the 2023 Women’s World Cup in Australia and New Zealand.
See related article: What is Algorand and why is it a blockchain to watch?
- Algorand will assist FIFA in developing its digital strategy, including an official blockchain-supported wallet solution.
- Algorand is a pure proof-of-stake blockchain that prioritizes scalability and efficiency.
- Crypto.com, another blockchain firm and cryptocurrency exchange, is one of the official sponsors of the Qatar World Cup.
- This is the first U.S.-based sponsor of the soccer World Cup since 2011, after FIFA’s decade of corruption-related investigations by the U.S.
- The Men’s World Cup is one of the largest sporting events in the world, with more than 1.1 billion people tuning in at one point for the 2018 final.
- Algorand’s price jumped over 6% overnight in Asia, and was trading at US$0.616 at press time.
See related article: Algorand upgrades will boost speed and privacy, founder says